Riverhead Capital Management LLC lifted its holdings in shares of Ally Financial Inc (NYSE:ALLY) by 52.1% during the 1st quarter, HoldingsChannel reports. The firm owned 475,210 shares of the financial services provider’s stock after buying an additional 162,769 shares during the period. Ally Financial makes up about 0.5% of Riverhead Capital Management LLC’s holdings, making the stock its 24th biggest position. Riverhead Capital Management LLC’s holdings in Ally Financial were worth $13,063,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of ALLY. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ally Financial in the first quarter valued at approximately $31,000. Enlightenment Research LLC acquired a new stake in Ally Financial in the fourth quarter valued at approximately $54,000. Truvestments Capital LLC acquired a new stake in Ally Financial in the first quarter valued at approximately $74,000. Private Capital Group LLC raised its holdings in Ally Financial by 69.8% in the first quarter. Private Capital Group LLC now owns 3,090 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 1,270 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Ally Financial by 2,129.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,394,346 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 2,286,941 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.
Ally Financial stock traded down $0.43 during mid-day trading on Wednesday, hitting $29.30. The company had a trading volume of 48,578 shares, compared to its average volume of 3,337,396. The firm has a market capitalization of $11.87 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.59 and a beta of 1.32. Ally Financial Inc has a 1 year low of $20.60 and a 1 year high of $30.27. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.03.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a net margin of 23.12% and a return on equity of 10.90%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, research analysts expect that Ally Financial Inc will post 3.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.68 annualized dividend and a yield of 2.32%. Ally Financial’s dividend payout ratio is currently 20.36%.
Ally Financial declared that its Board of Directors has initiated a share repurchase program on Monday, April 1st that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 10.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several brokerages recently weighed in on ALLY. Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Thursday, April 11th. Oppenheimer set a $33.00 target price on shares of Ally Financial and gave the company a “buy” rating in a report on Wednesday, April 17th. BMO Capital Markets raised their target price on shares of Ally Financial to $39.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Sandler O’Neill raised shares of Ally Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $33.00 in a report on Tuesday, February 26th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on shares of Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $32.92.
In other Ally Financial news, Director Mayree C. Clark bought 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $29.71 per share, for a total transaction of $148,550.00. Following the completion of the transaction, the director now owns 46,248 shares in the company, valued at approximately $1,374,028.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $27.73, for a total transaction of $61,616.06. Following the transaction, the chief accounting officer now owns 112,423 shares in the company, valued at $3,117,489.79. The disclosure for this sale can be found here. Insiders sold 6,666 shares of company stock worth $191,825 over the last quarter. 0.35% of the stock is currently owned by insiders.
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Ally Financial Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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